KERRIN SEARS, Prominent Properties Sotheby's International Realty Phone: (860) 539-3402
Email: [email protected]
Email: [email protected]
Effective July 10th the responsibility of New Jersey's supplemental fee—commonly known as the “Mansion Tax”—has undergone a major shift in responsibility. Previously paid by the buyer, this fee will now be paid by the seller for most residential and commercial property sales over $1 million. The tax amount has also increased for properties selling over $2M. For more information or questions on how this will impact you as a buyer or a seller in NJ please reach out.
